Fundamental analysis for September 22, 2015

22 September, 2015

The previous trading week ended with the US currency growth - the dollar index basket (USDX) has decreased by 0.78%. At the beginning of the new week the dollar continued to strengthen. However, the dollar is at risk of the macroeconomic positions weakening. The August durable goods orders volume is expected to decline by 2.0%, the second quarter GDP final assessment will be published on Friday which is the current 3.7% (2.7% y/y), still it can decrease as the Fed itself reduced the annual GDP forecast from 2.5% to 2.3% in the latest release.

By the end of the day the pair EUR/USD had decreased after the Moody credit agency decision to decrease the France sovereign rating amid the economic growth slowdown. Perhaps the deteriorated Eurozone payments balance played its role that showed reduction from 24.9 billion euros to 22.6 billion in July as some other currencies did not correct by 100% from the Friday's strengthening.

The pair GBP/USD finished the trades with the quotations decrease amid the "black gold" market sales.

The pair USD/JPY finished the trading day in the green zone - despite the stock markets sales, the Japanese currency failed to strengthen its position against the dollar.


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Gold prices bounced off

The spot was struggling to build onto the recovery during the night trades. Buyers lost their steam at 1265 where the pair found some fresh offers....

Golld turned around and reversed

The bullish trend remained intact on Tuesday. The price bounced from the upper limit...

Gold prices remained in a consolidation phase

Sellers led the spot to 1250 the other day but failed to break below the level. The price remained sandwiched between 1250 - 1255...


DAX grew amid a fresh buying interest

European stocks opened in green when markets recovered from Trump’s failure in Congress. Investors focused on Brexit...

Pound reached its monthly high

The pound remained in an upward channel on Tuesday. The price pulled back from its upper limit...

Brent maintained its ask tone

Sellers continued driving the benchmark lower after a brief pause at 50.80 dollars per barrel...


Gold prices remained in green

The bullish market structure remained in place on Thursday...

Gold prices traded in green

The gold recovery stalled around 1235 dollars per ounce on Monday. Buyers did not find any reason to move the price further. The precious metal was slowly declining...

Brent found a solid support after two day decline

Oil prices slightly rose on Friday morning due to the dollar's retreatment. However, Brent further growth was limited on the news that Russian oil production for February did change comparing to January...

  


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